Equities Analysts Set Expectations for CRDL Q3 Earnings

Cardiol Therapeutics Inc. (NASDAQ:CRDL - Free Report) - Research analysts at HC Wainwright decreased their Q3 2024 earnings per share estimates for shares of Cardiol Therapeutics in a report issued on Thursday, October 24th. HC Wainwright analyst V. Bernardino now forecasts that the company will post earnings per share of ($0.11) for the quarter, down from their previous forecast of ($0.09). HC Wainwright currently has a "Buy" rating and a $9.00 target price on the stock. The consensus estimate for Cardiol Therapeutics' current full-year earnings is ($0.33) per share. HC Wainwright also issued estimates for Cardiol Therapeutics' Q4 2024 earnings at ($0.10) EPS, FY2024 earnings at ($0.44) EPS and FY2025 earnings at ($0.46) EPS.

Cardiol Therapeutics Stock Performance

CRDL traded down $0.07 during trading hours on Monday, hitting $1.85. The stock had a trading volume of 281,283 shares, compared to its average volume of 419,162. Cardiol Therapeutics has a 1 year low of $0.72 and a 1 year high of $3.12. The company's fifty day simple moving average is $2.01 and its 200 day simple moving average is $2.08. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.01. The stock has a market cap of $127.65 million, a PE ratio of -5.49 and a beta of 0.89.

Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.03.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC bought a new position in Cardiol Therapeutics in the 3rd quarter worth about $27,000. Foundations Investment Advisors LLC boosted its stake in Cardiol Therapeutics by 237.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company's stock worth $321,000 after purchasing an additional 113,950 shares during the period. Lion Street Advisors LLC boosted its stake in Cardiol Therapeutics by 7.9% in the 3rd quarter. Lion Street Advisors LLC now owns 273,281 shares of the company's stock worth $544,000 after purchasing an additional 20,000 shares during the period. AdvisorShares Investments LLC boosted its position in shares of Cardiol Therapeutics by 12.7% during the 2nd quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company's stock valued at $2,934,000 after acquiring an additional 164,994 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Cardiol Therapeutics during the 2nd quarter valued at about $59,000. Institutional investors own 12.49% of the company's stock.

Cardiol Therapeutics Company Profile

Cardiol Therapeutics Inc, a clinical-stage life sciences company, focuses on the research and development of anti-fibrotic and anti-inflammatory therapies for the treatment of heart diseases. Its lead product CardiolRx, which is in Phase II multi-national, randomized, double-blind, and placebo-controlled study to evaluate the efficacy and safety of CardiolRx in acute myocarditis, as well as for the treatment of recurrent pericarditis.